When should I lock in the rate on a mortgage ?
 

I'm building a new house and wondering when it's a good time to lock the rate on the mortgage. If US defaults on tuesday I'm sure it's going to cause a big increase on the interest rate. If not I guess it's business as usual ? We're not closing escrow till October

Any suggestions ?

When the government decides...
If you can get anything south of 6%, easy money. Congrats on the new digs!!!

It's still cheap money and soon it wont be. . Act now! would be my advice.

Interest rates are historically low now. Barring any default, the Fed is expected to raise interest rates in 2012. Probably now is as good of a time as any ...

You should be able to lock in at 4.25 or around that with good credit and 80/20 LTV

Unless you plan on paying for your house by selling treasure bonds for the fed, your rate aint going up cause of the default.

Do it now.. Very probable that interest rates will be going up.

Thanks for the suggestions, waiting for the final quoute to decide if we wanna lock in the rate. Seems most people think the interest will go up

pay it off with cash..

Don't wait to long, End of the world is in 2012:2 cents:

The answer is when it is the lowest you think it will get before you close on your house